Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.016%

Price spread now: RISEx against OKX−0.008%46s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$180.180% of the position

Long on OKX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.152%+$15 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.008%, 7d avg +0.038%

Together, before fees+0.207%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.045% cheaper against OKX than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.038%). If the spread goes back, that is −$5 on $10k: about 29 hours of funding at the current rate (+$4 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	92.910	−0.0059	get 0.0029% / 4h	1h 23m	$42.8M	$102.2M	50x
Short	RISEx CL/USDC	92.903	0.0066	get 0.0008% / 1h	23m 55s	$3.1M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee RISExbpOrdersPrice spread, now −0.008%Rate

Funding earned: $26.21
Price spread: −0.008% → +0.038%: −$4.54
Slippage, 4 orders: −$2.04
Fee OKX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $3.63
Costs to cover: 0.180%
Break-even: 6.0 days

Slippage from OKX: live order book, 5 min ago; RISEx: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 5 min ago	0.54 bp	5.5 bp −$6	6.5 bp −$65	14.1 bp −$1,407	doesn't fit
Sell RISEx live order book, 5 min ago	0.48 bp	3.5 bp −$3	4.6 bp −$46	doesn't fit	doesn't fit

CL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0504%	1h	92.820	−0.097%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0252%	4h	92.870	−0.043%	$23.9M	$68.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0236%	4h	92.878	−0.034%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0207%	4h	92.915	+0.006%	$244.7M	$952.5M	100x	as long as short
Variational Omni CL	−0.0202%	4h	92.856	−0.058%	$13.6M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0167%	1h	92.760	−0.161%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.866	−0.047%	$961K	$660K	10x	as long as short
Gate CL_USDT	−0.0087%	8h	92.860	−0.054%	$20.9M	$52.6M	100x	as long as short
edgeX CLUSDC	−0.0079%	4h	92.903	−0.008%	$529K	$301K	30x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	92.854	−0.060%	$184.6M	$217.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAPlong	−0.0059%	4h	92.910	long leg	$42.8M	$102.2M	50x
Aftermath Perps WTIUSD	−0.0050%	1h	92.872	−0.041%	$2K	$27K	5x	as long as short
Extended WTI-USD	−0.0040%	1h	92.910	0.000%	$2.1M	$22.6M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.172%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.780	−0.140%	$2.5M	$1.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.849	−0.066%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.845	−0.070%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.930	+0.022%	$26.7M	$81.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.913	+0.003%	$42.0M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.910	0.000%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.829	−0.087%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.410	−0.538%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.797	−0.122%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	92.864	−0.050%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.517%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.850	−0.065%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.814	−0.103%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.837	−0.079%	$2.1M	$61K	20x	as long as short
RISEx CL/USDCshort	+0.0066%	1h	92.903	−0.008%	$3.1M	$2.9M	20x
Pacifica CL	+0.0100%	1h	92.815	−0.102%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.980	+0.075%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.813	−0.105%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.855	−0.059%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0185%	4h	92.880	−0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.845	−0.070%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.734%	$19K	$11K	30x	as long as short